Monday, September 1, 2008

Allianz Stadium?

It could be. According to the New York Times, the Jets and Giants are in negotiations with German-based financial services giant Allianz to buy the naming rights to their new stadium, set to open in 2010.

According to the Times, the deal could be for at least 30 years for around $25 million or more annually, which the teams would split.

Allianz also owns the naming rights to Bayern-Munich's football (soccer) team, and it sponsors Formula One racing. The estimated $25 million a year would exceed the $20 million that CitiGroup will pay for the new Mets' stadium and that Barclays will pay for the proposed Brooklyn-based Nets' arena.

This would be a welcome change for Jets fans, most of whom would love a corporate name to grace the stadium after years of playing in Giants Stadium.

Thanks to the SportsBlogNet Union for the tip.

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